Anna and melanie organize their new entity as an llc on may

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Anna and Melanie organize their new entity as an LLC on May 16th of the year 1. What is the default tax classification for this entity? Are there any alternative classification(s) available? If so, how do Anna and Melanie elect one of these alternate classification(s) and what are the tax consequences of doing so?

Reference no: EM13595558

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